NEW DELHI: The Union Petroleum Ministry is finalising a report which would suggest a comprehensive strategy to reduce import dependency on crude, gas and coal by 2024-25, said a sources aware of the development.
The ministry had formulated several working groups for monitoring the progress of various actions being taken by different departments and ministries to restrain dependency on imported crude and gas, the sources said. The reports set by these working groups have been compiled and would be presented as a comprehensive strategy on part of the Central government to reduce import dependency of crude oil, gas and coal in the entire energy sector, they added.
These reports by working groups provided support to the Petroleum Ministry's efforts to prepare a comprehensive roadmap for reduction of imported crude by 2024-25, which include measures like improving energy efficiency and productivity as well as improving refinery processes and promoting greater use of bio and alternate fuels.
These working groups had members from different stakeholding ministries, oil and gas entities, think tanks as well as other stakeholders. They studied the impact of several initiatives taken by the ministries concerned between 2015-16 and 2019- 20 to achieve the overall objective of reducing import dependency of oil as well as gas and also coal.
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